Wednesday

October 22, 2014

October 22, 2014

Posted by **ramana** on Wednesday, June 18, 2008 at 3:36pm.

- 10th -
**DrBob222**, Wednesday, June 18, 2008 at 3:59pm(1.00+x)^20 = 2 where x is the percent. If we call 1.00 + x = Y, then

(Y)^20 = 2

20*log(Y) = log 2

20*log(Y) = 0.30103

log Y = 0.30103/2 =

Solve for y and that will tell you what 1+interest rate must be. Subtracting 1.00 will give you the interest rate. I get something like 3.5%

- 10th -
**Damon**, Wednesday, June 18, 2008 at 4:04pmIn 20 years you must make one times the original amount in interest.

20 x = 1

x = .05 or 5%

- 10th -
**Damon**, Wednesday, June 18, 2008 at 4:05pmIt said simple, not compound.

- 10th -
**DrBob222**, Wednesday, June 18, 2008 at 4:27pmoops. You're right. I did compound.

- 10th -

**Answer this Question**

**Related Questions**

math (SIMPLE INTEREST) - 4.the amount in an account which was opened 180 days ...

math (SIMPLE INTEREST) - at what rate of simple interest will a sum of money ...

compound interest - How do I solve these problems? Complete the table for a ...

math - Amount of an investment. The amount of an investment of P dollars for t ...

Math - The amount of an investment of P dollars for t years at simple interest ...

Math - Your Aunt will give your $1,ooo if you invest it for 10 years in an ...

Math - 1. Find the total amount if you deposit $500 at a rate of 5% for two ...

math,algebra - Is this correct Business and finance. The simples interest I on a...

maths - The difference of compound interest and simple interest on an amount at ...

Algebra - Maybe that was to confusing...we have a data sheet to fill out - 2 ...